Analysis: Fund Manager Cash Levels Hit Record Lows, Reflecting Investor Extreme Bullish Sentiment

Stable, the stablecoin-focused public blockchain, announced on January 23 that its mainnet will undergo an upgrade to version 1.2.0 on February 4. Following the upgrade, the network’s native Gas token will be converted to USDT0, and the wrap/unwrap process will be eliminated. Additionally, the upgrade will enhance the observability of indexers’ staking lifecycles and improve overall network compatibility for developers.

January 23 – Binance founder CZ spoke at the World Economic Forum (WEF) in Davos yesterday, noting that the U.S.’s shifting stance on the crypto space is highly significant and will impact all aspects of the Western world. Following the U.S.’s lead, numerous countries have begun adjusting their positions on crypto assets, including the UAE, Thailand, and several Central Asian nations. The UAE has granted Binance licenses for nearly all its global operations, including futures trading. Beyond regulatory policy shifts, capital flows have also changed. Many traditional funds previously couldn’t allocate to crypto assets—even JPMorgan CEO Jamie Dimon publicly opposed the space in the past. But now he’s advising clients to allocate a portion of their holdings to crypto assets. Over the past year, new capital inflows into the crypto space have come primarily from traditional financial institutions or family offices.

River announced on January 23rd, per an official statement, that it has completed a $12 million strategic funding round. In addition to the $8 million previously invested by Justin Sun’s TRON DAO, this round includes investors such as Arthur Hayes’ Maelstrom Fund, The Spartan Group, plus U.S. and European publicly traded companies and institutions. The capital will support River’s expansion across EVM and non-EVM ecosystems (including TRON, Sui, and major EVM networks) and further build out its on-chain liquidity infrastructure. Goals include accelerating ecosystem deployment, deepening stablecoin liquidity, and driving satUSD integration into trading, lending, staking, and yield-generating use cases. Additionally, River will launch two yield products—Smart Vault and Prime Vault—offering a unified interface for users and institutions to access cross-ecosystem yield via protocol-native and institutional-grade strategies.

**OKX to Launch SPACE (Spacecoin) Spot Trading** Spot trading for SPACE (Spacecoin) will go live on OKX at 8:00 PM UTC+8 on January 23, 2026.